Workflow
Newmark Secures $275 Million Financing for Luxury Residential Development in New York, NY
NMRKNewmark(NMRK) Prnewswire·2025-03-03 17:59

Core Insights - Newmark has arranged a 275millionloantorefinancethemultifamilyassetlocatedat63−67WallStreetinNewYorkCity[1]−ThefinancingwasarrangedonbehalfofRockpointandBrooksvilleCompany,withfundingprovidedbyApolloGlobalManagement[1]CompanyOverview−NewmarkGroup,Inc.isaleaderincommercialrealestate,offeringacomprehensivesuiteofservicestailoredtovariousclients[4]−ForthetwelvemonthsendedDecember31,2024,Newmarkgeneratedrevenuesexceeding275 million loan to refinance the multifamily asset located at 63-67 Wall Street in New York City [1] - The financing was arranged on behalf of Rockpoint and Brooksville Company, with funding provided by Apollo Global Management [1] Company Overview - Newmark Group, Inc. is a leader in commercial real estate, offering a comprehensive suite of services tailored to various clients [4] - For the twelve months ended December 31, 2024, Newmark generated revenues exceeding 2.7 billion [4] - The company operates approximately 170 offices with over 8,000 professionals across four continents as of December 31, 2024 [4] Property Details - The 63-67 Wall Street property consists of a residential complex with 816 units, originally constructed as two separate office buildings in the early 20th century [2] - Rockpoint and Brooksville Company acquired the property in 2016 and have since invested in significant renovations and upgrades [2] - The property is located in the Financial District, providing residents with access to dining, shopping, and transportation [3]